Storage Wars

DFW undergoes a building boom in self-storage

Folks in DFW have a lot to store.

From the looks of it, the storage wars will be heating up soon in Dallas-Fort Worth. A new report shows more new self-storage space is under way in DFW than in any other major U.S. metro area.

The report, published in September by the Argus Self Storage Sales Network, estimates 9 million square feet of self-storage space is being built in DFW. That square footage is comparable to 50 average Walmart Supercenters.

Put another way, 164 self-storage projects are being developed in DFW, according to the Argus report. Eighty-two of those facilities are in the construction phase, 49 are planned, and 33 are in the early stages of leasing.

“The wave of self-storage development makes Dallas one of the most oversupplied storage markets in the country,” according to SpareFoot, an Austin-based marketplace for self-storage rentals.

The September report looks at self-storage development under way in 35 large U.S. metro areas. Behind DFW for development activity are New York City, with 54 projects under way (a little over 2.9 million square feet), and Houston, with 52 projects under way (nearly 2.9 million square feet), the report shows.

A DFW market report published in June by Argus notes that with self-storage occupancy rates sitting at record highs, “one should not be totally surprised by the number of new facilities that are or might be in the pipeline moving forward.”

A September report from research firm STR shows the Dallas-Fort Worth area has about 1,000 self-storage facilities with nearly 49 million rentable square feet. That works out to 6.7 square feet of self-storage space per person, or more than 270 average Walmart Supercenters.

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Million-dollar homes

Multi-million-dollar gated home community The Preserve rises in Frisco

Preserve

A palace on the prairie of The Preserve in Frisco

Construction has begun on a multi-million-dollar custom home community in Frisco. Called The Preserve, it's situated among PGA Frisco’s championship golf courses and near the Omni PGA Frisco Resort, with multiple phases that will roll out over the next few years.

The Preserve is part of Fields, a 2,500-acre development in North Frisco off the Dallas North Tollway. Fields is co-developed and owned in partnership with The Karahan Companies, Hunt Realty Investments alongside investors Chief Partners and Cross Tie Capital.

The development will feature retail, dining, entertainment, hotels, corporate offices, native Texas plants, flowers, trees, and 250 acres of park space. It's designed by the same team responsible for Plano’s Legacy West, led by Fehmi Karahan.

Phase 1 of The Preserve will feature 233 homes crafted by 10 North Texas luxury homebuilders: Alford Homes, Coats Homes, and Starside Builders have all begun home construction. The other seven are The Preserve Bella Custom Homes, Endurance Homes, Faulkner Perrin Custom Homes, Hawkins-Welwood Homes, Shaddock Custom Builders & Developers, Sharif & Munir Custom Homes, and Ventura Custom Homes, for whom construction will start soon.

The Preserve Frisco The Preserve in Frisco, soon to be covered with homes.The Preserve

Lot sizes range from 6,800 square feet to more than an acre. Home design options will incorporate high ceilings, open floor plans, glass walls, and seamless transitions between indoor and outdoor such as patios, infinity pools, and landscaped exteriors.

The surrounding area will have more than 2,000 new trees plus views delivered via design elements such as floor-to-ceiling windows and expansive outdoor living areas.

Many of the homes will address sustainability, health, and wellness with green architecture, energy efficiency, water conservation, and recycled building materials.

It will combine the privacy of a gated community with resort-style living, featuring amenities such as the PGA golf courses, 20+ miles of hike and bike trails, and the exclusive Brookside Club with an expansive swimming pool, state-of-the-art fitness center, tennis and pickleball courts and a playground.

Prices will start at $3,500,000.

Hunt Realty SVP Todd Watson calls it one of the most anticipated mixed-use projects in the area -- æa perfect location for discerning buyers seeking their forever home or a secondary residence" — although he's involved with the project so he's probably biased.

“As part of the Fields development, with prominent neighbors like PGA of America and the Omni PGA Frisco Resort, we know The Preserve will be one of the most sought-after addresses in North Texas," Watson says.

According to the Frisco Economic Development Corporation, Frisco’s population has increased by 500 percent in two decades and was recently recognized as the fastest growing city in Texas and third across the U.S.

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